The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-13
THE IVES FAILURE.
The District Attorney Takes up the Case and
Will Lay the Facts Before the Grand Jury.

NEW YORK, Aug 1.-THE only new develop
ment in the Ives matter to-day is the statement
that the district attorney had taken up his
and would lay the facts before the grand jury.
When Ives was asked what his information was
in regard to this. he referred the matter to his
counsel Algernon s. Sullivan. Mr. Sullivan
did not want to talk on the matter, however. 1t
admitted that Ives's house, on which he
has spent over $780, 000 was in his sisters name
and not included among the assets.
There was a meeting of creditors friendly to
Ives at the office of the c., II. & D. company
this afternoon. at which Russell Sage, C. C.
Waite, Combs, of Boston. Judge Ramsey, w. c.
Wastels, William Fellowes, Morgan, and both
members of the firm of Cromwell & Sullivan
were present. Four-ffths of the creditors were
represented. The assignee reported that serious
efforts were being made with substantial prog
ress. looking to paying off all the secured
indeDt of Ives e. Co.. and that
syndicate had been formed with
this view; also, that the c.. FL. & D.
was working in the same connection, and aiding
in every way by the of it's own name and
credit. After some discussion, in which Russell
. Sage opposed the general view, q resolution was
adopted recomme ending that the creditors hold
their securities, and take other action at
present, but to give to the assignee reasonable
time in which to provide for all claims. The
meeting being over. the assignee stated that the
claims Of Van Hoffman and August Belmont,
amounting TO $3.50 900, had been taken by a syn
dictate. thus preventing the sale Of collateral as
advertised for to-day.
The way in which Ives managed to get hold of
much of the preferred stock of the Cincinnati,
Hamilton & Dayton road was in this wise: He
would give a check to the road for the amount
of his purchase This cherk would be certified
by Henry S. Ives 81 Co., bankers for the road.
The certified check would then DO accepted by
Ives & Staynor the roads officers. They
would indorse it with the roads name. and it
would then be deposited with Henry S. Ives &
action, but Ives got the stock all the same and
paid for 1T. too-on paper.
Henry S Ives. who has been dubbed Ma
poleon III of Wall street." Ferdinand Ward
being Napoleon l." born in Litchfield.
Conn He is % years old, and looks more
like divinity student than q railroad finan-
cier. He appeared in Wall street about seven
years ago, aud was clerk for George Opdyke e.
Co.. bankers. Then he was connected with the
house of Denslow, Easton 81 Herts and later
with the firm of Meeker Ives & Co.
The house of Henry S. Ives & Co. is
only about two years old Statements
are that the Cincinnati. Hamilton g. Dayton's
claim is about S. 600 000 the Vandalia claim
about $2,5OO,O0O; VIM. Fellowes, Morgan
81 Co, 81. 600 O00 l.. B. Harrison, of the First
National Bank. 81, 900. 900; Alfred Sully, $780,
600; The Farmers Loan and Trust Company,
besides many other amounts to various railroads
and number of loans which were made out in
the names of brokers. The amount of these can
not be ascertaiDed